TMT Prices Drop Slightly Amid Weak Demand; Outlook Cautious
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TMT prices have declined across key regions as distributors respond to weak demand. Market sentiment remains cautious, with further adjustments likely if inquiries don’t improve. Supply remains stable, but sustained low demand could lead to additional price cuts in the coming week.
Key Updates
- Price Corrections Across Regions: Distributors in North, West, and South have reduced TMT prices, reflecting subdued demand and aligning with current market sentiment.
- Demand Stagnation Observed: Market inquiries have declined notably; demand remains weak, and a clearer outlook is expected after the first half of May.
- Cautious Market Outlook: If weak demand persists, further price reductions are likely next week; however, stable supply may prevent any major market disruptions.
Primary TMT Prices
- Prices are as follows (Size 12 to 32mm):
- Ex-Mumbai: Rs. 57,000–57,500/MT
- Ex-Delhi NCR: Rs. 57,500–58,000/MT
- Ex-Vizag: Rs. 54,000–54,500/MT
- Note: Distributors across the North, West, and South have reduced prices. The above pricing reflects these adjustments.
Primary TMT Demand & Supply
- Inquiry volumes have declined significantly compared to the previous week, indicating stagnation in market demand. Prices have been adjusted downward in line with broader trends. A clearer picture is expected after the first half of May.
- Supply remains stable, with distributors holding sufficient inventory to meet current requirements.
Primary TMT News
- Steel products maker Kamdhenu Ltd reported a 2% rise in net profit to Rs 17.1 crore in the March quarter, driven by higher revenue. In Q4 FY24, it had posted Rs 16.8 crore. Revenue from operations rose 12% to Rs 197.8 crore from Rs 176 crore a year earlier. FY25 net profit rose 21% to Rs 61 crore from Rs 50 crore in FY24.
- Kamdhenu Group CMD Satish Kumar Agarwal attributed the growth to increased volumes from company-owned units and franchise partnerships. He expects strong TMT bar demand in India, driven by infrastructure initiatives like PM Gati Shakti and the Smart Cities Mission.
Expert Opinion
- Market demand has weakened across both primary and secondary segments. In response, manufacturers have reduced prices slightly since early May. If demand remains subdued, prices may decline further next week.
- Supply conditions are stable, with distributors well-stocked and production units receiving limited new orders.
Daily Market Report
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Primary TMT Demand Stalls; Prices Adjust Across Regions
Primary TMT prices dropped slightly across key regions, reflecting a stagnant demand environment and high distributor inventory. Distributors across North, West, and South India adjusted rates downward as inquiry volumes declined. Supply remains stable, with no material shortages expected. Meanwhile, JSW Steel’s mining violation notice was set aside but raised investor concerns, leading to a dip in its stock.
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Primary TMT Prices Stabilize Amidst Slow Demand in May
Primary TMT prices remain stable in major markets, with prices in Mumbai, Delhi NCR, and Vizag holding at Rs 57,500-58,000/MT and Rs 54,000-54,500/MT respectively. Demand has stagnated compared to previous weeks, with distributors holding significant inventory. The market is waiting for price updates after the first week of May, but material availability is not an issue.
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